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What If You Have Missed Your Deadline?

The UK tax law is very complicated and often viewed as a riddle. Because of the deadlines and penalties applied if not complied with them, this issue is of utmost importance for every resident of the country. It is everyone’s responsibility to meet the deadlines and submit a completed return and make the applicable payments of tax. London flooring specialists warn that the key deadlines to have in mind are 31 January for online returns and first payment of tax on account, 31 July for the second payment on account and 31 October for paper tax returns. So what should you do? A reputable flooring company in London recommends you to act now.

Fortunately, missing your deadline is not going to lead to an arrest. Yet, there are penalty charges for late submission. You are given an automatic £100 penalty and after 3 months it rises by £10 per day. If you are 6 months late you will receive a penalty of £300. In some cases 5% of the tax owing is applied it that is greater than the penalty applied. If you become a year late, you are charged another £300 (or the same scenario with the 5% your tax owing if it is greater). London flooring specialists warn point out that there is also a penalty plus interest so better act now and pay your taxes within the deadline!

Alright, so far so good. But what if you want to appeal? London flooring experts point out that compliance with deadlines in non-negotiable. However, HMRC can consider appeals if there is a reasonable excuse for the penalties it levies. You can use the government’s website to lodge an appeal. So what is considered a ‘reasonable excuse’? Grounds for appeal is strictly limited. It involves an unexpected hospital stay that delayed the compliance with your obligations, the death of a close relative before the given deadline, a life-threatening illness or any software of computer failure which prevented compliance, unpredictable postal delays as well as a flood, fire or theft which prevented compliance. You will need to provide an appropriate proof for the excuse.

What excuses are not accepted by HMRC? Payment failure because of lack of funds, reliance on a third party to submit a return, a mistake on the return or difficulty in understanding HMRC`s online system. If you consider HMRC to be unreasonable better seek appropriate tax advice. It is possible to lodge an appeal resulting from a technicality such as HMRC’s failure to notify a penalty. In case you have made a reasonable excuse, you should not forget to comply your obligations at the earliest moment possible. You might be able to establish a time-to-pay agreement with HMRC where the penalty payment is suspended. London flooring professionals point out that HMRC is obliged to consider is there are any special circumstances which require the penalty to be reduced so if they fail to do that their decision can be appealed.